The State Government would be exploring possibilities of setting up manufacturing units producing daily-use goods including electronics items that are being imported from China.
Experts feel that the corona crisis has provided an opportunity to push forward with expanding scope of the MSME sector.
Principal Secretary Industries and MSME Hemant Sharma is striving hard to boost MSME sector in the Covid-19 pandemic period.
In fact, the State Government has sought expert opinion on how to push forward the MSME sector in this crisis period and accordingly, experts have suggested several steps, sources
With Covid-19 pandemic, imports from China have gone down and to turn the crisis in an opportunity, scope of MSME sector can be expanded by setting up of daily use electronics items that were earlier imported from China, said sources.
So the Department of MSME will be exploring the possibilities so that it will boost the MSME sector, said
The State Government will have to identify few sectors and extend benefit to those sectors in MSME, according to experts.
While the MSME sector is facing worst crisis during the Corona crisis, the State Government has been advised to release all pending dues including GST towards MSMEs.
One of the advices was to clear all the pending dues of the MSME sector lying with Public Sector Undertaking (PSU)s of the State Government. This is a major issue which always hits the MSME sector as PSUs keep pending payments due to these small scale industries.
Wage assistance /subsidy can be provided to help out MSMEs so that they will be able to retain maximum number of employees during the crisis period. Such types of measures are adopted in other countries, which were impacted due to Covid-19, experts pointed
In order to boost business in rural areas, small finance banks (SFBs) are needed to be preferred than Non Banking Financial Companies (NBFC)s.
The SFBs will be targeting the bottom of the pyramid through their personalised customer services. These banks will be making home visits, not only for loan collection but also for deposits and withdrawals.
The SFBs will be successful in attracting customers who have not been adequately serviced by major banks. Long Term Repo Operation (LTRO) facilities are needed to be extended to SFBs to assist them to cater to the MSME sector, which needs support, feel
Many migrant labourers, those who have come back to their homes will not be willing to travel back to the cities they have left. Now up skilling this labor pool is needed as Odisha is having a full- fledged State Skill Development Authority to take care of skill development.
While these supports are needed, seamless transport of products is needed to be ensured and the State is needed to be vigilant about the health conditions of the workers engaged in production facilities.